Nineteen Cayman Island law firms, representing 80 per cent of the members of the Cayman Islands Law Society (CILS), have declared their support of the long-awaited Legal Practitioners Bill (LPB). The Bill is due in front of the LA in a matter of days and will include a newly formed regulatory body called the Cayman Islands Law Practitioners Association (CILPA), which will represent the entire profession. There are currently 600 lawyers who practice in the Cayman Islands, compared with 30 when the original law was passed in 1969. The CILPA council will be elected, with a majority of Caymanians sitting on the council at all times.

Overdue

CILS President Alasdair Robertson said of the new law: 'This long overdue modernisation is important for the profession, the jurisdiction and the ultimate users of legal services, as well as being an integral part of the financial services industry and the economy of the Cayman Islands. With over 240 Caymanian attorneys on the roll and over 50 trainee lawyers trained by the profession over the last three years, we support the requirements of the LPB to put in place best practice guidelines. These guidelines will enshrine practices developed by the leading law firms to recruit, promote and advance Caymanian lawyers within the profession.'

Global opportunities

He added that Cayman law firms had given 46 Caymanian lawyers the opportunity to work abroad, which would increase under the new laws and would increase opportunities for Caymanian lawyers to be admitted in England.